Gross Domestic Product Grows By Annualized Rate of 4.1% in Q3

Gross domestic product grew by an annualized rate of 4.1% in Q3, leading many to believe (including the President of the United States, Barack Obama) that the economy is close to a breakthrough after years of stagnation.

The Bureau of Economic Analysis revealed the final GDP number for Q3/2013 earlier today. Preliminary estimates had the US economy growing by 2.8% in the third quarter, but the numbers were revised substantially higher due to strong consumer spending and greater-than-expected investment from businesses in commercial real estate and intellectual property.

Q3/2013 ended up being the strongest quarter of economic growth in the United States since Q4/2011. Here is how the numbers break down: